Glaucoma treatment market value to reach $3 billion by 2023

By Admin
The treatment market for glaucoma will rise in value from $2.4 billion in 2013 to approximately $3 billion by 2023 across the seven major markets (7MM...

The treatment market for glaucoma will rise in value from $2.4 billion in 2013 to approximately $3 billion by 2023 across the seven major markets (7MM) of the U.S., France, Germany, Italy, Spain, U.K., and Japan, representing a moderate overall Compound Annual Growth Rate (CAGR) of 2.4 percent, says research and consulting firm GlobalData.

The company’s latest report states that growth will be driven by the arrival of innovative first-in-class drugs, such as Rhopressa/Roclatan, Vesneo, and trabodenoson, and the introduction of additional fixed-dose combination (FDC) products, such as Tapcom/Taptiqom and Simbrinza, during the forecast period.

According to Catherine Daly, Ph.D., GlobalData’s Senior Analyst covering Neurology and Ophthalmology, sales for glaucoma treatment will remain relatively flat until 2016, followed by a period of sustained growth due to the arrival of pipeline drugs.

RELATED TOPIC: Japan's pharma market value is edging towards $80 billion by 2020

Daly says, “The six products anticipated to enter the 7MM during the forecast period will collectively generate sales of $672 million by 2023, constituting a 22.2 percent share of the global market.

“Aerie’s Roclatan is forecast to achieve the highest sales among these drugs, and is expected to generate approximately $262 million in 2023. Significant uptake of Roclatan in the U.S., due to the drug’s enviable position of becoming the first prostaglandin, analog-containing FDC product available in this large arena, will be the main overall market driver.”

GlobalData’s report also states that the U.S. will consolidate its position as the dominant country for glaucoma treatment within the 7MM. US sales are expected to increase from $1.7 billion in 2013 to $2.2 billion by 2023 at a CAGR of 2.5 percent, with its overall market share rising slightly from 70.7 percent to 71.6 percent over the same period.

RELATED TOPIC: Why the UK is the best European market for mHealth

Daly explains, “This increase is mainly attributed to the expected introduction of several new products between 2013 and 2023, and the overall increase in glaucoma prevalence that is mostly due to an aging society in the U.S..

“However, Allergan will lose patent protection for its FDC drug Combigan in 2022, allowing generic brimonidine + timolol FDC products to enter the arena. This will negatively impact the US market value and slow the overall growth rate in the last two years of the forecast period.”

Let's connect!   

[SOURCE: Pharmapoint: Glaucoma - Global Drug Forecast and Market Analysis to 2023]

Share

Featured Articles

Hyfe AI uses acoustic AI in its digital cough monitoring

Hyfe uses acoustic AI in its digital cough monitoring. Dr. Joe Brew, Co-Founder & CEO of Hyfe AI, tells us more about coughing technology post-COVID-19

Siemens: smart finance to help medical technology growth

Penny Pinnock, Business Development Manager at Siemens Financial Services UK, discusses how adopting digital technology can support the healthcare sector

Healthcare Digital news roundup: prostate cancer & AI

This week in Healthcare Digital, we heard from experts in the sector: Trevor Dearing from Illumio, Avenda Health’s Brit Berry-Pusey & Vish Charan of Abbott

Lexica shares post-COVID-19 digital healthcare trends

Digital Healthcare

Medical devices expanding senior healthcare innovation

Medical Devices & Pharma

Abbott’s CRM medical devices can help cardiac arrhythmia

Medical Devices & Pharma